CytRx Corp. (NASDAQ:CYTR) shares dropped 1.3% during mid-day trading on Thursday . The company traded as low as $2.22 and last traded at $2.25, with a volume of 558,386 shares changing hands. The stock had previously closed at $2.28.

CYTR has been the subject of a number of research reports. Aegis raised their price objective on shares of CytRx Corp. from $9.00 to $12.00 and gave the company a “buy” rating in a report on Monday, March 28th. FBR & Co reiterated an “outperform” rating and issued a $8.00 price objective on shares of CytRx Corp. in a report on Friday, May 20th. Zacks Investment Research lowered shares of CytRx Corp. from a “hold” rating to a “sell” rating in a report on Monday, March 14th. Jefferies Group reiterated a “hold” rating on shares of CytRx Corp. in a report on Wednesday, June 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of CytRx Corp. in a report on Saturday, April 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $7.50.

The stock has a 50-day moving average of $2.47 and a 200-day moving average of $2.54. The stock’s market capitalization is $148.21 million.

CytRx Corp. (NASDAQ:CYTR) last issued its quarterly earnings data on Wednesday, May 11th. The company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.07. Equities research analysts forecast that CytRx Corp. will post ($0.78) earnings per share for the current year.

CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. The Company is focused on the clinical development of aldoxorubicin, its modified version of the chemotherapeutic agent, doxorubicin. It is engaged in Phase III trials for aldoxorubicin as a therapy for patients with soft tissue sarcoma (STS) whose tumors have progressed after treatment with chemotherapy.

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